DBS Hong Kong to pay Lehman buyers HK$651mln

Lehman Brothers notes buyers classified as having low to medium risk would get money plus interest.

DBS Hong Kong, a unit of Singapore's DBS Group Holdings, will pay out a combined HK$651 million to some buyers of Lehman Brothers constellation notes, the territory's financial regulator said.

Customers classified by the bank as having a low to medium risk profile would receive their money returned plus interest that would have been payable had it been placed in a fixed-term deposit, Hong Kong's Securities and Futures Commission said in a statement.

Investors in Singapore, Hong Kong and Indonesia who bought the product had lost their money after the U.S. investment bank Lehman Brothers went under in 2008 according to a report in Reuters.

The constellation notes are credit-linked notes related to the collapsed U.S. bank.

Also Read

Asian investor sentiment index inched higher to 16pts in 4Q13

China's M&A deal values hit record high of US$260b in 2013

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit